Turmeric sparkles on demand from N. India

Our Correspondent Erode | Updated on June 24, 2011


Following demand from upcountry traders, spot turmeric prices increased by Rs 500 a quintal at the weekend sales on Friday.

“ Bulk buyers received orders from Delhi, Kolkata, Gujarat and other northern States and met their obligations paying a higher price of Rs 500 a quintal,” Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association, said on Friday.

He said: “The traders are expecting more orders from North India as quality goods are arriving at Erode markets and sales are encouraging. On Friday, out of arrival of about 10,000 bags, 80 per cent of the goods were sold. Hectic competition was seen among bulk buyers.It is said that if supply increases next week, prices may decrease sharply. Prices remain low in other centres in North India. There was no improvement in the futures too, according to traders.

At the Erode Turmeric Merchants Association Sales Yard, the finger variety was sold at Rs 5,199- 8,009 a quintal, the root variety at Rs 4,800-7,026.

Salem Crop: The finger variety was sold at Rs 7,885-9,269, the root variety at Rs 6,495-7,326. Totally, of the 2,614 bags kept for sale, 756 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 6,110-8,389, the root variety at Rs 5,110-7,099. All the 241 bags that arrived were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 6,539-8,392, the root variety at Rs 6,169-7,110. Out of 1,195 bags kept for sale, 1,097 were sold.

At the Regulated Marketing Committee, the finger variety fetched Rs 7,239-8,069. The root variety at Rs 6,866-7,199. Out of 963 bags that arrived for sale, 881 were sold.

Published on June 24, 2011

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